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MandrakeSoft Bankruptcy Plan Gets Court Approval

According to a post on the MandrakeClub Web site, the French
courts have given preliminary approval to MandrakeSoft's plan to
return to normal operations--giving the French Linux distribution
company a chance to prove it should continue to do business.

MandrakeSoft filed for "cessation des paiements" on Jan. 15 of
this year. The bankruptcy protection suit is similar to Chapter 11
bankruptcy in the United States.

"In a way, this was just a 'formality,' but nevertheless there
was always a possibility of [the] judge seeing things differently
than we do and ordering the immediate liquidation of the company,"
wrote MandrakeClub member Deno in the post entitled "Show Goes
On."

Deno stated in his post that this was just a summarization of
what he learned during internal meetings at MandrakeSoft yesterday,
but passing this formality is a positive step towards getting
MandrakeSoft back on track.

"So, the prelude is over, and now the ball is back in our yard:
if MandrakeSoft manages to meet the expectations and reach the
profitability within few months, all will be fine. So it's up to us
(and you) again to prove that things can really work out," Deno
wrote.